Seacoast Banking Corporation of Florida (NASDAQ:SBCF) EVP Sells $415,691.50 in Stock

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) EVP Joseph Forlenza sold 12,635 shares of Seacoast Banking Corporation of Florida stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $32.90, for a total transaction of $415,691.50. Following the transaction, the executive vice president directly owned 42,392 shares in the company, valued at $1,394,696.80. This represents a 22.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Seacoast Banking Corporation of Florida Stock Down 5.4%

Shares of SBCF stock traded down $1.78 on Friday, hitting $31.12. The stock had a trading volume of 1,066,277 shares, compared to its average volume of 725,074. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.77 and a quick ratio of 0.77. The business has a 50 day moving average of $33.14 and a 200 day moving average of $31.61. Seacoast Banking Corporation of Florida has a 12-month low of $21.36 and a 12-month high of $35.55. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 19.45 and a beta of 0.93.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its earnings results on Thursday, January 29th. The financial services provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.07). Seacoast Banking Corporation of Florida had a return on equity of 7.07% and a net margin of 15.47%.The firm had revenue of $204.80 million for the quarter, compared to the consensus estimate of $201.25 million. During the same period in the prior year, the business earned $0.48 EPS. Seacoast Banking Corporation of Florida’s quarterly revenue was up 53.0% compared to the same quarter last year. As a group, analysts expect that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current year.

Seacoast Banking Corporation of Florida Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be given a $0.19 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.76 annualized dividend and a yield of 2.4%. Seacoast Banking Corporation of Florida’s payout ratio is currently 47.50%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SBCF shares. Piper Sandler reissued a “neutral” rating and issued a $33.50 price target on shares of Seacoast Banking Corporation of Florida in a report on Monday, November 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods increased their target price on shares of Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. Finally, Zacks Research cut shares of Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $31.90.

Institutional Trading of Seacoast Banking Corporation of Florida

A number of institutional investors have recently added to or reduced their stakes in SBCF. MidFirst Bank purchased a new position in Seacoast Banking Corporation of Florida during the 4th quarter valued at about $287,000. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Seacoast Banking Corporation of Florida by 7.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 14,202 shares of the financial services provider’s stock worth $446,000 after buying an additional 950 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Seacoast Banking Corporation of Florida in the fourth quarter valued at approximately $100,000. Zacks Investment Management boosted its position in shares of Seacoast Banking Corporation of Florida by 38.8% in the fourth quarter. Zacks Investment Management now owns 50,997 shares of the financial services provider’s stock valued at $1,602,000 after acquiring an additional 14,249 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Seacoast Banking Corporation of Florida during the fourth quarter valued at approximately $2,693,000. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Seacoast Banking Corporation of Florida Company Profile

Seacoast Banking Corporation of Florida operates as a bank holding company through its principal subsidiary, Seacoast National Bank. Headquartered in Stuart, Florida, Seacoast National Bank provides a full range of commercial and retail banking services across the coastal region of Florida. Its network of branches serves customers from Martin County through Miami-Dade County, offering deposit accounts, lending solutions, cash management and payment services to individuals, small businesses and middle-market companies.

In addition to traditional banking, Seacoast offers specialized mortgage lending and wealth management services.